Strengths Since ONTrack is an advertising company itself, there are numerous strengths that the company can use to benefit from possible opportunities. For instance, ONTrack knows and understands the cost of advertising, which can provide the company with advantages in negotiating the budgeting strategies with existing and potential advertisers. Also, ONTrack is one of the well-recognized companies established in the industry that specialize in advertising horse race production. Therefore, this makes ONTrack more trustworthy and compelling from clients’ point of view. This will ultimately help increase the value of the advertisement campaign. Consequently, when the audiences see the advertisement campaign, they will be more likely to click on the advertisement. These strengths will minimize the impact of threats such as false advertising and spams that are found on many websites.
Weakness In order to generate new and improved marketing strategies for the company to advance further, it is necessary for the company to recognize its weaknesses. The weaknesses associated with our company would be that our website is completely old style with absolutely no interaction, hence it is just a one-way communication website which makes it boring and it doesn’t appeal to customers. Also, there is no system of feedback provided. This makes it harder for us to infer what the customers’ value most and what exactly they might be interested in. Another weakness is that there is no other way to reach potential customers. There is a market constraint due to the slow adaptation of new technological platform. However, recognizing weaknesses of our company and knowing them alone is not good enough. ONTrack is an advertising company that advertises for other companies using traditional advertising where viewers perceive advertisement in limited places such as television on the racetrack and sport bars. As a result, this becomes a weakness for the company. However, many young adults in the present days primarily spend most of their time on the Internet. It will take some time for the company to cope with online advertising since the company has depended on traditional advertising in the past years. In order to ensure the company’s weakness will not be prevented from opportunities, the advertising campaign will help the company gain its reputation on the Internet platform through demonstrating that the company can also successfully advertise online by incorporating multimedia advertisements.
Opportunities Another essential thing we need to realize is the company’s opportunities.It is difficult to catch an opportunity when it strikes without actually realizing that there is an opportunity available. Hence it is always important to be aware of the opportunities that arise. We came across a few opportunities for the ONTrack company. Firstly it is important to reach our potential customers by expanding our market by using the many different new mediums such as social networking, interactive websites, videos, applications for mobile devices, etc. By using such methods, it is easier to target the younger population as well, which is what we are looking at doing. By targeting a younger age group (20+), there are more chances of other companies like sporting companies, beer companies and the like to offer to put their advertisement on our ONTrack Nework. There are unlimited dynamic and static advertising opportunities that ONTrack has to offer for advertisers to interact with the audience. There are countless value-added opportunities for integrated campaigns that link on-air advertisements with other promotions such as contests, cross-promotions, sampling, SMS and events. These opportunities strengthens and compliments traditional media campaigns by delivering messages and integrated programs that keep advertisers’ products and services at the top of the mind in an environment that is highly engaging, and measurable as well as highly capable of integration. It is the best of all worlds.
Threats
For an advertising company like ONTrack, there could be threats that are inevitable. There are other advertising companies that we are competing with who are also trying to attract more viewers just like us. The advertising market is continually increasing, hence it is harder for us to be recognized amongst other large companies. Also, the horse racing industry is quite limited in Canada due to weather conditions and is a less popular sport as compared to others such as hockey or basketball.
Strengths
Since ONTrack is an advertising company itself, there are numerous strengths that the company can use to benefit from possible opportunities. For instance, ONTrack knows and understands the cost of advertising, which can provide the company with advantages in negotiating the budgeting strategies with existing and potential advertisers. Also, ONTrack is one of the well-recognized companies established in the industry that specialize in advertising horse race production. Therefore, this makes ONTrack more trustworthy and compelling from clients’ point of view. This will ultimately help increase the value of the advertisement campaign. Consequently, when the audiences see the advertisement campaign, they will be more likely to click on the advertisement. These strengths will minimize the impact of threats such as false advertising and spams that are found on many websites.
Weakness
In order to generate new and improved marketing strategies for the company to advance further, it is necessary for the company to recognize its weaknesses. The weaknesses associated with our company would be that our website is completely old style with absolutely no interaction, hence it is just a one-way communication website which makes it boring and it doesn’t appeal to customers. Also, there is no system of feedback provided. This makes it harder for us to infer what the customers’ value most and what exactly they might be interested in. Another weakness is that there is no other way to reach potential customers. There is a market constraint due to the slow adaptation of new technological platform. However, recognizing weaknesses of our company and knowing them alone is not good enough.
ONTrack is an advertising company that advertises for other companies using traditional advertising where viewers perceive advertisement in limited places such as television on the racetrack and sport bars. As a result, this becomes a weakness for the company. However, many young adults in the present days primarily spend most of their time on the Internet. It will take some time for the company to cope with online advertising since the company has depended on traditional advertising in the past years. In order to ensure the company’s weakness will not be prevented from opportunities, the advertising campaign will help the company gain its reputation on the Internet platform through demonstrating that the company can also successfully advertise online by incorporating multimedia advertisements.
Opportunities
Another essential thing we need to realize is the company’s opportunities.It is difficult to catch an opportunity when it strikes without actually realizing that there is an opportunity available. Hence it is always important to be aware of the opportunities that arise. We came across a few opportunities for the ONTrack company. Firstly it is important to reach our potential customers by expanding our market by using the many different new mediums such as social networking, interactive websites, videos, applications for mobile devices, etc. By using such methods, it is easier to target the younger population as well, which is what we are looking at doing. By targeting a younger age group (20+), there are more chances of other companies like sporting companies, beer companies and the like to offer to put their advertisement on our ONTrack Nework. There are unlimited dynamic and static advertising opportunities that ONTrack has to offer for advertisers to interact with the audience. There are countless value-added opportunities for integrated campaigns that link on-air advertisements with other promotions such as contests, cross-promotions, sampling, SMS and events. These opportunities strengthens and compliments traditional media campaigns by delivering messages and integrated programs that keep advertisers’ products and services at the top of the mind in an environment that is highly engaging, and measurable as well as highly capable of integration. It is the best of all worlds.
Threats
For an advertising company like ONTrack, there could be threats that are inevitable. There are other advertising companies that we are competing with who are also trying to attract more viewers just like us. The advertising market is continually increasing, hence it is harder for us to be recognized amongst other large companies. Also, the horse racing industry is quite limited in Canada due to weather conditions and is a less popular sport as compared to others such as hockey or basketball.